Hillsdale Investment Management Inc. Boosts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Hillsdale Investment Management Inc. raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 152.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 395,809 shares of the oil and gas producer’s stock after purchasing an additional 239,256 shares during the period. Canadian Natural Resources accounts for about 0.6% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 27th largest position. Hillsdale Investment Management Inc.’s holdings in Canadian Natural Resources were worth $12,207,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Holocene Advisors LP purchased a new position in Canadian Natural Resources during the 3rd quarter valued at about $13,700,000. Principal Securities Inc. grew its position in shares of Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 5,982 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after buying an additional 17,694 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Canadian Natural Resources by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after buying an additional 1,270,945 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after buying an additional 2,064,492 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

CNQ opened at $30.33 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm has a fifty day moving average price of $30.02 and a 200 day moving average price of $32.24. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The stock has a market cap of $63.70 billion, a P/E ratio of 11.78 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a $0.4117 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 5.43%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s payout ratio is currently 77.88%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNQ shares. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.00.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).